Core One Labs Reaches Definitive Agreement to Acquire Akome Biotech - Seite 2

⁵Parkinson’s disease is a global burden and more than doubled in the past decade. Nearly 1 million people live with Parkinson’s disease in the US and 10 million people worldwide. The Parkinson’s disease treatment market was valued at USD $3.99 billion in 2016, by 2022 it is expected to reach USD $5.69 billion. Currently, there is no cure for Parkinson’s disease, but there are some therapies available to relieve symptoms. Levodopa is main one drug used to make dopamine to replenish the brains dwindling supply by mimicking dopamine in the brain.

Joel Shacker, CEO of the Company stated, “This acquisition will put us at the forefront of research into the use of psychedelics for treatment across multiple diseases, elevating our company’s portfolio to be comparable with the largest company in the space. Akome’s seasoned management team has experience taking products from their development stage through commercialization. Their current pipeline of four provisional matter of composition patents have us very excited at their prospect of developing into commercial products to help people suffering with Alzheimer’s Disease, Stroke, Parkinson’s Disease and Depression, opening us up to a multibillion dollar treatment market.”

In consideration for all of the outstanding share capital of Akome, the Company is required to issue 3,500,000 common shares to the existing shareholders of Akome. Following issuance, the shares will be subject to the terms of a pooling arrangement, during which time they may not be transferred or traded without the prior consent of the Company.

The Company is at arms-length from Akome and each of its shareholders. The acquisition will not constitute a fundamental change for the Company, nor will it result in a change of control of the Company, with the meaning of applicable securities laws and the policies of the Canadian Securities Exchange.

About Core One Labs Inc.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One has developed a patent pending thin film oral strip (the “technology”) which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.